This site uses cookies. To find out more, see our Cookies Policy

Construction Portfolio Manager III in Boston, MA at Eastern

Date Posted: 2/17/2019

Job Snapshot

Job Description

When you join Eastern Bank, you join the largest and oldest mutual bank in the country. We pride ourselves in having knowledgeable and experienced professionals that can provide the expertise, personal attention and service our customers deserve.
 
As the fourth-largest full-service commercial bank in Greater Boston, we are able to offer you unique opportunities for career growth throughout the organization, as well as a competitive compensation and benefits program.
 
As an inclusive company, we work to ensure that our valued employees are treated fairly, recognized for their individuality, and encouraged to reach their fullest potential. These values have earned us a reputation as a great place to work and provide a strong reason why you should consider a career with us.

This position will be responsible for managing the construction requisition/advance process for assigned loans/projects within the Commercial Division (CRE, CDL, C&I), assure compliance with procedures and policy, assist in managing risks associated with completion of construction projects and funding in a timely manner.
 
Major Responsibilities



  • Work with line Relationship Manager (RM) to select construction consultant and engage the consultant to conduct (i) the  upfront review of project/budgets/etc and (ii) monthly inspections and reports.
  • For new projects, review construction loan agreement and prepare a Welcome Package to provide instructions and information to borrower for submission of periodic requisitions.
The following tasks are integrated and related and represent 80% of the job:
  • Review monthly requisition submissions for completeness and compliance with documentation requirements.  Communicate with borrower including questions, requests, etc on any issues/questions related to requisition packages and review with RM. 
  • Review project budgets and line items within the budget; address any out of balance or deficiency issues with RM.
  • Review requisition/report with RM including discussion of any issues that could impact progress/completion of project.
  • Arrange for inspection and title updates/endorsements and review for accuracy and completeness.  Communicate with participating lenders, provide requisition packages, request for funds, etc.
  • Coordinate funding of requisitions.  Advances will be processed by the respective line Relationship Administrator.
  • Compile all requisition related documents into a single file and upload the package to Doc Man (nCino). 
  • Develop, Maintain and assist direct Manager with monthly/quarterly/annual reporting tasks related to construction portfolio.
  • Assist RM and direct Manager to monitor data integrity and risk factors including, but not limited to, Construction/Non-Construction status (data integrity) and out of balance situations (risk factor).
  • Assist RMs with CRR/Auditor inquiries as appropriate. 
  • Other related activities as required. 





Job Requirements

This person’s activities are critical to the evaluation of requisitions and funding processes for assigned construction loans assuring compliance with procedures, identifying any issues that could impact construction progress. 


  • Ability to identify budget and other issues that might occur during construction process.
  • Able to execute judgment when faced with issues that arise in the review/funding process.
  • Strong analytical and communication skills are mandatory for required interaction with internal business partners, customers and external business partners.
  • Commercial lending knowledge including understanding loan documents/terminology, underwriting, etc.
  • Strong organization skills; ability to handle requests on multiple projects/loans in various stages of review/funding to assure timely funding.
  • Ability to understand budgets and identify any out of balance issues.
  • Familiarity with bank systems and processes including FIS, nCino, etc.
  • Ability to work independently after training.
  • Effective verbal and written communication skills.
  • Ability to interact in a professional manner with internal business partners, customers, and external business partners.
  • College degree or 5 years commensurate direct related experience.
  • Detail oriented; able to evaluate project budgets for completeness, accuracy, funds sufficient to complete project, etc.
  • Strong communication and judgment skills evidenced by analysis and decision making.